The 800 Pound Reversal Signal

It seems like every time I mention one of these descriptive patterns, the market confounds the technical analysts and goes the other way. Even so, I'll play the law of averages, and I won't ignore the 800-pound gorilla in the room. Actually, that's Mike, the IT guy that the temp agency sent over. He likes to call himself a "Quant". (They think they know everything.)

In the image above, Mike is explaining how head and shoulder patterns are formed while demonstrating the best method for extracting ants from a hole with a can of compressed air.

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